"It's better to be a lioness for a day than a sheep all your life!"

Melanie Hawken, founder & ceo, Lionesses of Africa

The Edit Daily and Melanie Today are the personal blogs of Lionesses of Africa's founder and ceo, Melanie Hawken. They feature community news, opinion, and commentary on a wide range of topics of interest to today’s women entrepreneurs on the African continent. They are your daily must-reads for relevant, thought-provoking entrepreneur news, with the occasional irreverent moment thrown in for good measure.

Here’s an interesting statistic to think today. A new survey from Clutch has just been published which reveals that around 60% of small businesses didn’t have an official documented budget for 2018. This is in stark contrast to those businesses with 10 employees or more, where almost 80% created an annual budget. The data from the Clutch survey shows that growing companies understand the importance of creating a budget, while many small businesses still don’t have a full appreciation of the benefits of having an official budget. The survey suggests that entrepreneurs should create a budget if they don’t want to risk the financial health of their businesses. The added bonus is that budgeting helps small businesses focus and achieve their goals. For example, in 2018, 50% of the small businesses who had a budget stuck to their Q1 and Q2 targets, while 11% actually came under budget. The report recommends setting clear budget goals at the beginning of the business year and keeping an eye on those goals. It also recommends reviewing the business finances and spending every thirty days instead of quarterly. The longer the gap between each review, the higher the chances of the business going over the budget.

So here’s an irony! According to a new international research study conducted by Vistaprint, it seems a fear of failure in business actually means women entrepreneurs tend to succeed more. The survey, which questioned 2000 business owners across Europe, investigated their attitudes towards failure in business. A real fear of failure seems to contribute to female business owners making fewer costly mistakes and as a result building more sustainable businesses. Women were also twice as likely to believe the best way to deal with business failure was to pick themselves up and try again, as many times as needed. Other interesting differences between the women entrepreneurs and their male counterparts were revealed when asked what they could have done to prevent having to close their businesses. 44% of women said they could have been more strategic compared to 15% of men. 31% of women said they could have better developed their business skills and better planned ahead, compared to 11% and 14% of men respectively. This suggests that women entrepreneurs are better at intraspection and learning from mistakes in order to keep moving forward.

It may seem like common sense, but if you create an innovative new product or service that solves a problem for your customers, then you have the basis of a good business. So it’s interesting to hear that many startup businesses spend more time pitching their concepts and looking for fundraising money, than they do actually focusing on the product development. This was one of the findings emerging from the 5th Annual AESIS (Africa Early Stage Investor Summit) which took place in Cape Town, South Africa this week. The strong message from the event was that value creation for customers is the key to making good business and investment decisions. “The point is providing value. If you can provide value, you can make returns,” Wale Ayeni, regional head for Africa of VC investments at the International Finance Corporation (IFC) said. “A lot of time, people come to us with business models or plans that don’t understand the demographic of the mass market in Africa. Startups have to touch the lives of the majority of the population.” Good advice for all entrepreneurs looking to build sustainable, impact-driven businesses on the continent.

Here’s a fact that might surprise you - stress is a choice. The latest research suggests that as human beings, our emotional response to certain situations dictates whether we feel stressed or not. And we choose that response, so it seems that many of us are unconsciously choosing to be stressed. Here’s how to change our approach to stress. Firstly, tell yourself that stress is not real, it’s your mind that is responding negatively to a situation. If you are feeling overwhelmed, change your perspective by releasing all your negative thoughts and emotions, then look at the situation again with clarity. Secondly, take a step back from any challenge or difficult situation and look at it with a fresh perspective. Thirdly, if you are dealing with a stressful situation, take back your power by focusing on the positive outcome you would like to achieve, not on the possible negative outcomes. Your wellbeing and your business will thank you for not choosing stress in your life.

The latest 2018 Ibrahim Index of African Governance (IIAG) has just been published and it paints a worrying picture of access to economic opportunity for citizens of African countries, despite strong levels of economic growth over the last decade. Since 2008, the African average score for Sustainable Economic Opportunity has increased by only 0.2%, despite a continental increase in GDP of nearly 40% over the same period. This means “there has been virtually no progress in creating ‘Sustainable Economic Opportunity’, meaning it remains the Ibrahim Index’s worst performing and slowest improving category,” the Mo Ibrahim Foundation commented. Young people are being particularly affected by this phenomenon and are experiencing the practical effects of jobless growth. With Africa’s working age population expected to increase by 901.8m between 2015 and 2050, these negative economic trends mean it’s time for a rethink, otherwise the future could look bleak. The Index recognizes that most jobs for the burgeoning population on the continent will come from the private sector, and from a new generation of entrepreneurs who choose to build their own businesses and futures, instead of looking to big business or big government to be the solution. We need to educate, train and support this new young generation of entrepreneurs to be the change that Africa really needs.

In sub-Saharan Africa, the financial inclusion gender gap is still a major challenge, and the region still has the second highest gender disparity of any emerging market region. It is estimated that around 35 million women in sub-Saharan Africa have difficulty accessing financial services. Although some banks are making efforts to address barriers to entry for women, what is clear is that Africa’s banks need to create specific banking products and services for women, and in particular women entrepreneurs, to improve this situation. And, it’s in the banks’ best interests from a business perspective. Women owned businesses represent a third of all SMEs on the African continent, and it is accepted that SMEs are the real job creators in Africa. That means women entrepreneurs are a major source of untapped economic potential, as without access to the right financial support and advice, they cannot grow. If more banks in Africa looked to proactively close the credit gap and provide real financial access to women entrepreneurs, then the continent would thrive. Banking on women entrepreneurs in Africa makes sense on every level. It represents access to a vast untapped business pipeline for the banks worth billions of dollars. It also provides the financial boost that women entrepreneurs need to really build high growth potential businesses on the continent.

They often say that your business and your brand is worth what somebody is prepared to pay for it. But whether you are interested in selling your business at some point in the future, or you are trying to get investors on board now, it’s important to know the real value of the business you are building. So how do you calculate the actual value of your business? Hiring a professional appraiser is an obvious first step, but as a basic guide there are three methods used to assign value. Firstly, the asset based method looks at what it would cost to replace all the assets in the business and assigning a value to that cost. Secondly, the market based method compares other similar businesses in your sector or area to determine a value. Thirdly, the income based method evaluates pretax and after-tax earnings or uses another income metric such as gross sales, plus the value of the tangible assets and future growth prospects. It sounds complicated, but it is a good way of tracking the growth and value of the business you are building.

Here’s some news that might not come as a complete surprise to many of us as entrepreneurs. Despite all the challenges of running and building a small business, most employees have more fun working for small businesses than for big businesses. That’s according to the 2018 Small Business Happiness Survey which has just been published. In fact, 87% of small business employees say they are actually happiest working at a small business, which the survey defined as an organization with 3 to 49 employees. They are also more engaged in the business, which means they make a big difference to its success. So what are the secrets to creating happy employees in a small business? The top findings from the survey include creating a fun working environment; encouraging feedback and sharing of new ideas; pay equity between employees; and recognition for a great job done. Ultimately, its about making everyone feel they are part of the business family.

We take our cars in for an annual service; we give our bodies an annual health check-up; so why don’t we do the same for our business brands? A strong, healthy brand is a key factor in the success and prosperity of your business. It directly affects your ability to sell your products, to raise funding, to hire the best employees, and to grow. A healthy brand is an indicator of a healthy business. So here are a few questions to ask to ensure your brand is in good shape for the year ahead. Is your brand supporting your business strategy? Do your customers understand what your brand stands for? Is your brand positioning consistent no matter where it is used? Is your brand message resonating with customers? If the answer is yes to all those questions, then your brand is in good shape. If not, then hold some focus groups to get direct feedback from your customers and start making some adjustments to your brand and its positioning. You can then get ready to start the new year off with your strong brand ready to go.

Can you ‘think’ your business into a bigger, bolder, future, one that pushes boundaries and expectations? Susan Duffy, Executive Director of the Center for Women’s Entrepreneurial Leadership at Babson College believes you can. The potential for business growth often focuses on factors such as innovation, access to markets, access to capital, and market trends. But Susan suggests that if women entrepreneurs really want to grow their businesses, then it starts with them thinking bigger and expanding their expectations. She says that if your expectation is to build a $1 million business, your brain will subconsciously interpret data through the $1M lens. It will let in information that aligns with that goal, steering you towards achieving that outcome. In order to push our own boundaries of success, we must intentionally and regularly revisit our expectations and goals, and keep pushing those boundaries until we realize our ambitions.

Finding ways to successfully address the digital gender divide is a topic generating lots of attention now. It is also the subject of a new report published this week by the OECD “Bridging the Digital Gender Divide - Include, Upskill, Innovate”. In Africa, digital transformation is recognized as a way of economically empowering women and can contribute to greater gender equality. E-commerce platforms, mobile phones and digital financial services empower women with the essential tools to create a business and earn a living. By tapping into the digital economy, it increases the ability of women to learn new skills, to innovate, and to become high impact contributors to local economies. By bridging the digital gender divide, it can provide new sources of economic growth and drive sustainable development on the continent. As the report states, the digital gender divide needs to be resolved, and now. There is no reason for women to trail behind in digital transformation, and the cost of inaction is high in Africa.

A new generation of enterprising young women who are socially conscious are emerging on the African continent. They understand the power of entrepreneurship to make big change happen. Importantly, they harness their passion and knowledge to create exciting, high impact businesses to solve key challenges. This year’s prestigious Anzisha Prize was announced this week, celebrating Africa’s most innovative social and business entrepreneurs under the age of 22. And some exciting new impact driven women entrepreneurs caught the attention of the judges. This year’s winner was Cameroonian health-tech entrepreneur Melissa Bime who was recognised for INFIUSS, her online blood bank and digital supply chain solution which ensures local hospitals have access to blood. Read Melissa’s story here. She is a great example of how young enterprising women are creating real solutions to big challenges that affect their local communities and the continent as a whole. Africa and the world needs more like her!

The fifth annual ‘EY Global Job Creation Survey’ found that entrepreneurs are leaders in creating jobs. But here’s the interesting news, it seems that almost 67% of young women entrepreneurs, those under the age of 35, expect to grow their workforce in the year ahead. Additionally, they anticipate their net workforce growth to be 16%, more than five times the expected growth rate among those over 55 (3%). This makes sense when you consider that these younger entrepreneurs are usually at an earlier stage of their company’s life cycle. It’s when we would expect to see more dynamic growth. Another interesting trend amongst these young women entrepreneurs is that they are twice as likely to characterize themselves as disruptors. They have more of a global mindset to their businesses, and expect to hire more people in overseas markets than their older peers. This statistic reveals another facet of disruption: it knows no borders. So, when Africa looks to find sources of much needed jobs growth in the immediate future, it’s the continent’s young women entrepreneurs who are contributing to the solution.

At this time of year our attention turns to planning for the year ahead, so what better time to revisit every aspect of our businesses and hit the refresh button. When was the last time you looked at your brand, really looked at it with fresh eyes? Perhaps it needs an update? Maybe your sales and marketing strategy needs a rethink and a new approach to better equip the business to break into new markets next year? Or perhaps your product range needs to be expanded or modified to meet changing customer buying patterns? For any business to remain relevant, it’s essential to keep transforming, to keep refreshing in order to stay open to new ideas and maintain high energy levels. If you need some inspiration as to how to practically achieve this in your own business, read the book Hit Refresh by Microsoft CEO, Satya Nadella. It’s fascinating to learn how even the biggest companies in the world have to continually refresh their thinking and their business models in order to stay relevant in our lives.

There is a well-known saying that competition makes us faster, but collaboration makes us better. The notion being that if you want to get your product or service to market quickest, then go alone. But if you want to change the world with your business and go bigger and further, then you need to go together with others. And in the world of entrepreneurship, there is definitely some truth to that. Collaboration makes us think and do things differently. It challenges us to push our own boundaries and to question our traditional ideas. It makes us think bigger and more audaciously. Collaboration amongst women entrepreneurs can take many forms. But the one common factor for success is the bringing together of like-minded, visionary people who bring their very different perspectives and experiences to the business to make the bigger vision a reality.

Making global headlines this week were a number of stories about well-known high street retail businesses that are finding it tough right now. Some are closing stores and restructuring their companies in order to stay afloat and relevant in a changing marketplace. The same goes for a number of leading restaurant chains that once flooded global high streets, but are now rethinking their businesses and their strategies. Africa’s retail scene is going through it’s own challenges, with some economies experiencing really tough times, and others growing fast. For the woman entrepreneur building a niche retail brand on the continent, it has been traditionally tough to break into some of these retail markets. But with the growth of online retail, an exciting new generation of proudly African retail brands is emerging, tapping into a rapidly growing global and pan-African consumer base. Lionesses of Africa will be discussing this exciting topic at the World Retail Congress in Amsterdam in May next year - look out for news on that soon!

How often do you hear the story of a great African company whose success came as the result of finding a creative solution to a problem? Often, those solutions have the potential to change the world. TIME magazine has just compiled its first annual list of Genius Companies, businesses that are inventing the future. Companies were evaluated on their originality, influence, success and ambition to drive real progress in their chosen field. A number of game-changing innovations by leading African women entrepreneurs were on the list, including BRCK, a portable modem providing access to fast internet connectivity in rural areas, co-founded by Juliana Rotich. And Wonderbag, the innovative non-electric slow cooker, founded by Sarah Collins, and changing the economic and social lives of Africa’s women. Africa has many challenges that need to be overcome if it is to fulfill its immense potential. So it’s good to see innovative women entrepreneurs from the continent finding those solutions and being recognized globally for the contributions they are making to the world.

Some interesting statistics emerging from the renowned coffee growing country of Rwanda, point to the need for Africa’s entrepreneurs to extend the value chain of important commodities on the continent. Coffee exports from Rwanda are valued at approximately $60 million, or 7% of Rwanda's total exports. The industry is becoming increasingly competitive amongst global players for high quality Arabica varieties, and it supports over 400,000 farmers across the country. But where are the proudly Rwandan coffee brands being built as sustainable businesses by entrepreneurs on the continent? Africa boasts some of the world’s finest coffee beans, tea, and cacao, but there are few world-class, home grown brands emerging on the continent that celebrate these fine ingredients. And importantly, that are enjoyed by Africa’s growing consumers. So let’s redress the balance. Let’s support a new generation of entrepreneurs who are passionate about building businesses and brands that truly extend the value chain of these important commodities in the countries in which they are grown.

A new study published by Gartner reveals some interesting findings about wealth creation by women. Between 2000 and 2015, the global private wealth held by women rose from $34 trillion to $51 trillion. By 2020, that number is expected to further rise to $72 trillion — a five-year increase that will exceed that of the previous 15. Women are also progressing in their share of overall wealth, albeit more gradually. Between 2010 and 2020 the estimated share of global wealth controlled by women is expected to increase from 28% to 32%. Additionally, most of the private wealth changing hands in the coming years will go to women, who will on average outlive men by five years. As the baby boomer generation reaches its later years, the ongoing transfer of wealth to women will only accelerate. Women are also creating high growth businesses and generating assets that are adding to this positive wealth creation story.

experiencing a major success streak, and wonders if it is ever going to happen to you? Or perhaps you feel you may have left things too late and the best is already behind you, then here’s the good news. According to a fascinating study from Northwestern University in the US which has just been published, it is never too late to hit your peak. That incredible hot streak of success that you crave may still be ahead of you, and age is not an issue. “The traditional way of thinking is that once you pass 45 years old, the chance for a breakthrough is lower,” said Dashun Wang, associate professor of management and organizations. This is simply not the case. Your hot streak “can be with equal probability your very first work, your very last work, or somewhere in the middle,” he adds. So, maybe your best time as a woman entrepreneur is still to come.

It is rare to find industry sectors that are dominated by women globally, but the multi-trillion-dollar wellness industry is surely one of those. The rapidly growing wellness movement has seen women entrepreneurs as the driving forces, pioneering new approaches to self-care. They have innovated or created specialist fitness clubs, mind-body care businesses, spas, workplace wellness programmes and are growing the lucrative wellness travel industry. This trend reflects an interesting intersection between women’s empowerment and business, reflected in the surge in women-only health and wellness clubs, and co-working spaces where business and wellness combine. More and more wellness and beauty brands are putting storytelling at the heart of their brand building, with the woman founder’s personal story often driving the business. In Africa, an exciting new generation of women wellness entrepreneurs is emerging, tapping into this global trend. They are creating beauty and wellness products that are for women, by women, harnessing the natural ingredients and know-how unique to the continent, but taking them mainstream. Watch out for many of these proudly African, women driven wellness and beauty brands making their mark in the global marketplace.

As any entrepreneur launching a new startup knows, it can be daunting when you look around you and see what appears to be so much competition and so much noise in the marketplace. Yet there is room for everyone, and as the new entrant to the market, it’s important to find your gap and get yourself noticed for all the right reasons. It starts with building a strong product or service, one that responds to market needs. Any successful brand starts with a great product, with a clear purpose and a strong message as to why customers need it. It’s important to remember that a sustainable brand is built upon that product. You build a great product first, that’s the priority. Building a great brand comes afterwards. Remember, if your product doesn’t work and isn’t needed, then it is worthless - and so is your brand.

Many women entrepreneurs are inspired to start a business because they want to solve a problem or challenge in society. Others turn a passion or a hobby into a business. In both of these situations, often they forget that to be sustainable there has to be an intentional focus on making profits, not just making an impact. It’s okay to solve problems, but the business aspect needs to be a priority too. Creating profitable businesses will ensure that it’s possible to solve even more, and bigger problems. That’s why when starting or growing a business, your plan needs to include a clear strategy for making money from your product or service, and a plan for managing the long-term growth of the business. It may be necessary to consider expanding into other related service or product areas, or it may mean going digital with your business. Whatever the case, you may not have the next five to ten years completely mapped out, but you need to plan where those future profits are going to come from.

Sustainable consumption and production is about promoting resource and energy efficiency, sustainable infrastructure, and providing access to basic services, green and decent jobs and a better quality of life for all. It’s at the heart of the UN Sustainable Development goals. So the concept of a circular economy focused on recycling, reusing and remanufacture, is a direct response to growing concerns about resource scarcity. It raises awareness that business as usual is literally unsustainable. In 2014, the Ellen MacArthur Foundation and the World Economic Forum released a report suggesting that over US$1 trillion a year could be generated for the global economy by 2025, and 100,000 new jobs created within the next five years, if businesses adopted a circular economy approach. The good news is that a new generation of innovative women ecopreneurs in Africa are playing their part. They are successfully linking sustainable business to environmental consciousness and concern for societal well-being. Read our article on some of Africa’s leading women ecopreneurs who are driving the circular economy on the continent.

Sustainable development in Africa is top of mind right now as the UN looks to galvanize the power of partnerships to achieve its key goals. Indeed, SDG Goal 17 specifically aims to Revitalize the Global Partnership for Sustainable Development, particularly in parts of the world such as Africa. There is much talk about the need for partnerships between big governments and big business. But what is often underestimated is the power of entrepreneurs to be driving forces for sustainable development in Africa, working in partnership with these bigger players. Women entrepreneurs in particular are at the heart of communities, they understand the challenges and the development needs better than anyone, and importantly, they take an innovative approach to finding lasting solutions. What these impact driven women entrepreneurs need is to forge partnerships with big business, governments and development agencies built upon a shared vision, and shared goals to make big change happen. It is precisely these types of partnerships that will deliver on sustainable development objectives in Africa for the long-term.

The United Nations’ 2030 Sustainable Development Agenda which looks to shift the world on to a sustainable and resilient path, is once again in focus. And UNESCO, the UN agency actively supporting countries in making this transformative change, has two key priorities - Gender Equality and Africa. UNESCO has recognized that mainstreaming gender equality in all of its programmes will drive real economic and social change, especially on the African continent. What is interesting when looking at the 17 SDGs (Sustainable Development Goals) is that Africa’s women entrepreneurs are the real agents of social transformation in each of the focused goals. They understand the extended impact chain of the businesses they create. According to the World Bank, women entrepreneurs typically put back 90% of what they make into their communities. They educate their children, they create job opportunities, they look after the environment, and they promote the full participation of women and girls in society. If Africa is to fulfill its Sustainable Development goals, it will be women entrepreneurs who are driving real and lasting social and economic transformation.

How many times do you hear people saying to you, ‘I could never leave my secure 9-5 job for the uncertainty of the entrepreneurship life’? Yet, today as economic challenges are impacting many African countries and big companies inevitably restructure and often downsize to mitigate the impact, there is no such thing as a secure job anymore. So the idea of abandoning the steady paycheck in favour of setting up a new business is perhaps not as crazy as it might once have seemed to many. One of the most common reasons people choose to start their own businesses is to have better control over their lives, to be the ones making the decisions for their futures. It is worth remembering this reason on those days when we question the entrepreneurial path we have taken, and the road gets a little bumpy!

How often in business are you rolling along nicely, on an upward trajectory, with business looking good, and then life throws you a curve ball. All of a sudden, everything you thought looked certain is suddenly in doubt. Your plans which looked great on paper are now looking more like theory than practice. At times like this, it is useful remembering that business is like the stock market. There will be the inevitable ups and downs, but hopefully a positive upward trajectory will happen over time. During the downturns, it is essential to revisit plans, make adjustments for new business conditions, and keep focused and positive. A sustainable business is defined by how it makes it successfully through the challenging periods, not by how it breezes through the good times.

Risk-taking is part of everyone’s entrepreneurial journey - after all, as soon as you set out to take your idea for a business and turn it into what you hope will be a successful enterprise, you are taking a big risk. It means putting your money and dreams where your mouth is, experiencing vast amounts of stress, long hours, lack of sleep, loss of personal and family time, to name but a few of the inevitable consequences of embarking on this crazy journey. But being an entrepreneur doesn’t mean becoming a dare devil, it’s all about taking calculated risks, preparing well for any eventuality, and finding ways to mitigate the possible downsides of your business decisions. An important piece of advice to remember is that while taking risks is definitely something you should do as an entrepreneur, it’s equally important to make sure those risks are calculated and well thought through.

For those of you following our current Lioness On Tour travels as we take our Lioness Lean In events to women entrepreneurs across the African continent. The next part of the tour takes us from Zambia to Zimbabwe. Monday sees Lionesses of Africa arriving in Harare for the first time and we are so excited to finally meet women entrepreneurs there in person and get to know their businesses in this city. It’s going to be a great trip and we will be sharing it with you all through our special series of blog articles and Lioness Radio Show programmes. Also look out for our special feature article this week which showcases some of Zimbabwe’s leading and emerging women entrepreneurs. Prepare to be inspired! If you have booked your ticket for the Lioness Lean In event in Harare on Tuesday 9th October, see you there!

Today, Lionesses of Africa marks yet another milestone on this incredible journey towards realizing our vision of empowering and supporting the growth and development of 1 million women entrepreneurs on the African continent. It is exactly 4 years today since we launched on the first ever Global Women’s Entrepreneurship Day in New York. And it seems like just yesterday! How time flies when you are doing something you are truly passionate about. When we first launched, we had just 10,000 women entrepreneurs in our community, and today we have over 730,000 users in all 54 African countries and across the global Diaspora. And we are just getting started. I would like to say a big thank you to all the inspirational women entrepreneurs in our Lionesses of Africa community who inspire us each and every day. It is a pleasure to know you, to support you, and to watch you all grow on your business building journeys. I would like to express my unending gratitude to all our supporters and our impact partners who help us to make such a difference to the lives of Africa’s women entrepreneurs. We look forward to embarking on an even greater journey over the coming months and years, and together with can make a real impact. So on this milestone day, I am sending a special Lioness Roar to you all and I look forward to hearing about and celebrating your business successes over the coming year.

As someone who spends her life traveling to different cities around the African continent and the rest of the world constantly, I am exposed to the sheer size of the luxury goods market. Just walking through airports or city shopping districts, I get to see the proliferation of global luxury brands, from handbags and scarves, to footwear and clothing, all carried and worn as visual status symbols. It’s estimated that the global luxury goods industry is worth more than $1.5 trillion, and it is set to grow year on year. it’s time that Africa’s luxury brand builders got a share of this exciting marketplace. There is no doubt that the continent has a new generation of talented women entrepreneurs creating luxury products and brands with the potential to break through. But getting that all important exposure is key. When we showcased 10 leading women luxury brand builders from the African continent and the Diaspora at our Startup Night! Africa London event earlier this year, the event generated a huge amount of interest. We continue to harness the power of digital media to help expose these high growth potential African luxury brands to the world. It’s only a matter of time before we see them making their mark in key cities globally, taking their place alongside the powerhouse luxury brands that have been around for decades.

This time last year, I was in the US when the annual Small Business Saturday campaign was underway (it takes place on 24 November this year). It is a powerful campaign that encourages all consumers to support small business retailers, small independently owned restaurants and cafes, and other independent local businesses. And as a campaign, it works, it has a real impact. In a country that is built on a foundation of small business (companies with less than 500 workers account for 99.7% of all businesses in the US), it sends a message to the rest of the world that small businesses grow strong countries. In Africa, we need to see the same respect and support for the power of small businesses to make a strong economic impact. As consumers, we also need to recognize that when we buy our products and services from small local businesses, we are helping to grow our local economies and to contribute to all our futures. So, let’s all make conscious decisions to buy our products and services from our fellow entrepreneurs, and contribute to helping Africa fulfill its economic potential.

I have noticed a definite trait amongst many of the women entrepreneurs in the Lionesses of Africa community - and one I am absolutely guilty of myself. We are all very good at making everyone and everything else a priority in our lives, and not taking special care of ourselves. At this time of year, when we are all frantically trying to get things done and projects finished before the end of year holidays, it can be especially stressful. So it’s important to start developing good self-care habits that will help us to better deal with everything that life throws at us. Those habits could include meditating for a short time each morning to refresh the mind, or going for a short walk in the evening to decompress, or perhaps just going to the spa for a pamper session once a week. Personally, my new self-care habit is going to include taking 15 extra minutes each morning, to sit and enjoy a cup of Earl Grey tea while I watch the sun rise before I start working, no matter where I am in the world on my travels. What is your new self-care habit going to be?

As many of you will know, this week is Global Entrepreneurship Week, the annual celebration of those tenacious people who launch businesses that bring ideas to life, drive economic growth in their countries, and importantly create jobs. The week is also about inspiring a new generation of young people to explore their potential as self-starters and innovators, and encouraging them to consider entrepreneurship as their first step to making their way in the world. And whilst it's great to have a focused week where the world's attention is focused on entrepreneurship, it's also worth remembering that every single day, entrepreneurs simply get on with the job of building their businesses, creating innovative products and services, and creating much needed job opportunities for others, quietly and without fuss or recognition. That's where the real impact is made and that's worth celebrating.

It’s that time of year when big and small companies alike look to acknowledge the hard work done over the past 12 months by their valued employees. And that’s when thoughts turn to buying corporate gifts. But let’s think about the potential impact that could be made if those companies sourced and bought their corporate gifts from Africa’s women entrepreneurs, instead of from corporate gifting companies whose mass produced products are sourced from China or other parts of the world. Across the African continent, women entrepreneurs are creating world-class products ideal for corporate gifting, from luxury home decor items, to award-winning leathergoods, jewellery and textiles. Women entrepreneurs are great at creating experiential gifts that excite and entertain stressed out employees, from artisanal chocolate and bread-making sessions, to gin and wine-making educational tours - to name but a few. The added value comes with the unique, impact-driven back-story that comes with every corporate gift produced by Africa’s women entrepreneurs, adding to the feel-good factor. So to all those corporate gifting decision-makers out there, why not think outside of the traditional box and take a look at buying this year’s gifts from Africa’s women entrepreneurs. Your employees and those women owned businesses will thank you for it!

Reading through my online newspapers this morning, I was reminded that this is International Stress Awareness Week. Do we really need a dedicated week to tell us how stressed we are? Stress is something that entrepreneurs have to deal with on a regular basis, it’s part of the deal. So it seems like a good time to share some insights on how best to manage our stress levels as we travel this crazy entrepreneurial journey. Many of the women entrepreneurs I know in the Lionesses of Africa community use the gym, meditation or yoga as their stress reliever. Some, like me, use walking each day as a way of getting fresh air, exercise and a good dose of perspective and clarity. Others harness their stress as a motivator to become more creative and productive. One amazing woman entrepreneur I know has built a business teaching people to use laughter as a way of battling stress.The fact is, there will always be stresses and strains to deal with as entrepreneurs, but the trick is to not let it overwhelm us, and instead to prioritize self-care to successfully deal with it.

It's always exciting when we visit new countries and cities with our Lioness Lean In events for women entrepreneurs, and this month sees us heading to Windhoek, Namibia on the 20th of November, and we are thrilled at the prospect. Over the past year, we have been showcasing some wonderful women-owned businesses and brands from Namibia and we are seeing some truly world-class products emerging from the country right now, For a small country, it definitely punches above its weight in terms of innovative women's entrepreneurship. All this month, we will be shining a spotlight on Namibia's great women business and brand builders, sharing their stories and introducing their products and services to you all. Some of these names and brands you may have heard of, others not, but what they all share in common is a sense of local pride and a celebration of what makes Namibia unique. So let's Lioness Lean In Windhoek!

I was reading an interesting article this morning about entrepreneurs who set out to become global influencers in their fields of expertise and, as a result, build really powerful businesses that leverage this influential positioning. It reminded me of Malcolm Gladwell’s groundbreaking book, Outliers, where he introduced “the 10,000-hour rule” to a mass audience. For those who haven’t read the book, the concept is that if you studied one subject for 100 hours you would be a local expert, 1000 hours and you would be a national expert, and 10,000 hours you would be considered a global expert/influencer. Now, 10,000 hours is a huge commitment to make to build your own reputation as a global influencer, but you can become recognized as an expert in your field in a shorter period of time, and that can be great for business. Start speaking at conferences on your area of expertise, write articles or a regular column or a blog, publish a book, or start a podcast. It’s all about making your voice heard and sharing your knowledge and expertise with your audience.

How often in business do you find yourself listening to your intuition when it comes to making important decisions? I know I certainly trust my gut in these situations, and if you are like me, then it seems we are not alone. According to research, it seems that over 60% of leading business executives and entrepreneurs when faced with major decisions to make often rely on their gut feelings, in addition to looking at the facts. And there is a reason for that. Intuition is informed by our past experiences and expectations of the future based on those past experiences. Intuition works faster than our thinking minds, and as a result it is possibly more reliable. Research also suggests that women make more successful intuitive decisions because they have a stronger ability to organise environmental information and read nonverbal cues in others. Oprah Winfrey is one uber successful entrepreneur who believes in the power of intuition, saying: “I’ve trusted the still, small voice of intuition my entire life. And the only time I’ve made mistakes is when I didn’t listen.” Something to think about this morning as we reflect on the decisions we have to make!